Furthermore, as a licensed Real Estate salesperson who spends thousands of dollars annually on Continuing Education, licensing, dues, MLS fees, Errors and Omissions insurance, etc.

I hear others talk of 'saving pennies and spending dollars' when starting out, trying to do too much themselves, etc.  

I was thinking of making rent all inclusive with rent, utilities, cable, internet, cleaning services and household common area shopping( toilet paper, soap etc).

Right now I spend a lot of time looking at websites like you have mentioned.

Spending all that money on gfi's will just be a waste of your money.

As a recent graduate who is interested in doing a flip in live what do you suggest I spend on my first investment?

If you spend just $1 more than this amount, you have to bring the entire house to current - raising the foundation, etc.

Before you buy anything, I would search "Wholesaling" here and you'll spend the next couple weeks getting to know who has been here a while, has a reputation, and you'll find TONS of info.  

What you can spend?

I have to ask, since you buy low, spend some money and appraise high ... are you guys purposely using the BFRR strategy, or did this just kind of come about?